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FEMA OKs Funds to Help Fight Montana Wildfire
News – Insurance Journal Jul 29, 2021 | 12:19 pmFederal funds are now available to help with firefighting costs for the Poverty Flats Fire burning in Big Horn County and Crow Agency in Montana, FEMA reported. FEMA Acting Regional Administrator Tammy Littrell approved the state’s request for a federal[…]
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A Week Later, Oil Well Fire Still Burns in North Dakota
News – Insurance Journal Jul 29, 2021 | 12:18 pmThe operator of an oil well pad where a fire has been burning since last week in McKenzie County has brought in a specialized emergency response crew to get a handle on the blaze. The well pad is located on[…]
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3 Midwest Manufacturers Pay More Than $400K to Settle Hazardous Waste Violation Cases
News – Insurance Journal Jul 29, 2021 | 12:06 pmThree manufacturing companies in Midwest states reached settlements with the U.S. Environmental Protection Agency (EPA) to resolve alleged violations of the federal Resource Conservation and Recovery Act (RCRA). Collectively, the three companies paid more than $400,000 to settle the cases.[…]
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Baton Rouge Apartment Building Torched
News – Insurance Journal Jul 29, 2021 | 12:04 pmAn arsonist set fire to an apartment building in Baton Rouge, Louisiana, leaving 10 people temporarily without their home, fire officials said. The fire at night on July 27 caused thousands of dollars in damage, WBRZ-TV reported. Firefighters found the[…]
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2 Dead; 7 Injured After Leak at Texas Chemical Plant
News – Insurance Journal Jul 29, 2021 | 12:03 pmTwo people are dead and dozens more were injured after a chemical leak at a Houston-area plant, officials said. The incident happened about 7:35 p.m. on July 27 and involved an acetic acid leak at the LyondellBasell facility in the[…]
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Oklahoma Health Officials Seek Emergency Order as COVID Cases Rise
News – Insurance Journal Jul 29, 2021 | 12:01 pmHealth officials in Oklahoma on July 27 urged Gov. Kevin Stitt to issue an emergency declaration that would allow for expanded care for those with COVID-19 — something the Republican has said he will not do. Such a declaration would[…]
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The Hartford Reports Q2 Net Income Up 94%; Boasts ‘Superb’ P/C Results
News – Insurance Journal Jul 29, 2021 | 10:57 amThe Hartford today announced it earned $900 million in net income in the second quarter of this year, a 94% jump from second quarter 2020. Core earnings of $836 million were up 91% from second quarter 2020. “Our performance was[…]
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Chubb CEO Greenberg Stresses Need to Address Ransomware and ‘Systemic’ Cyber Risk
News – Insurance Journal Jul 29, 2021 | 10:30 amChubb Chairman and CEO Evan Greenberg is doubling down against outlawing ransomware payments to address the the growing threat of ransomware. He appears to make an exception, however, for cryptocurrency payments. “While I don’t think the government should outlaw ransomware[…]
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The Hanover Enhances Product Suites for Lawyers, Healthcare Facilities
News – Insurance Journal Jul 29, 2021 | 09:56 amThe Hanover Insurance Group Inc. said it has enhanced its product suites for lawyers and healthcare facilities. The Hanover Lawyers Advantage product suite offers stand-alone professional liability coverage for a wide range of law firms. In addition to a new[…]
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Study Finds Boston’s Subway System Faces Severe Flood Threat
News – Insurance Journal Jul 29, 2021 | 09:31 amThe Boston area’s subway system faces a severe threat from rising seas over the next 50 years that could cause flooding and cut critical links around the city, according to a new study. The report, written by researchers at the[…]
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Ex-eBay Employee Gets 18 Months for Cyberstalking Campaign
News – Insurance Journal Jul 29, 2021 | 09:28 amA former security operations manager for eBay Inc. was sentenced to 18 months in prison Tuesday for his role in an extensive campaign to terrorize and intimidate the editor and publisher of an online newsletter. Philip Cooke pleaded guilty in[…]
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Man Killed When Machinery Collapses on Him at Massachusetts Storage Facility
News – Insurance Journal Jul 29, 2021 | 09:25 amA 38-year-old man was killed when a piece of machinery collapsed on him at a storage facility in Everett, authorities said Monday. The man was operating a hydraulic forklift system alone at a Commercial Street facility on Monday when it[…]
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China Regulator Urges Insurers to Expand Natural Disaster Coverage
News – Insurance Journal Jul 29, 2021 | 09:14 amBEIJING – China’s banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings. It also plans to raise public awareness of risks, to let natural disaster insurance[…]
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Fitch Sees No Ratings Change, ‘Modest Benefit’ for Liberty Mutual in State Auto Buy
News – Insurance Journal Jul 29, 2021 | 09:01 amFitch Ratings said it does not expect Liberty Mutual Holding Co. Inc.’s ratings to be impacted by its planned acquisition of State Auto Group for an estimated $1 billion of cash consideration. “Given the relative size of the two organizations[…]
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CFC Underwriting Names Newman CEO as Walsh Becomes Group CEO
News – Insurance Journal Jul 29, 2021 | 08:58 amCFC Underwriting, the London-based specialist managing general agent, announced that Chief Innovation Office Graeme Newman has been appointed as the company’s new CEO. Founder and current CEO, Dave Walsh, will assume the role of group CEO effective immediately, subject to[…]
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Insurtech Agentero to Expand Digital Network for Agents After Raising $13.5M
News – Insurance Journal Jul 29, 2021 | 08:40 amAgentero raised $13.5 million in new financing designed to boost and help expand its digital insurance network for agents. The California-based insurtech, launched in 2017, is designed to help insurance agents access digitally-savvy insurance carriers and boost their revenues. Agentero[…]
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Liberty Global Transaction Solutions Group Reorganizes EMEA Team, Led by Messinger
News – Insurance Journal Jul 29, 2021 | 08:22 amLiberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has announced a suite of team changes in EMEA. The appointments create a new regionalized structure for EMEA under the new leadership of Markus Messinger, who has been appointed head[…]
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Congressional Committee Asks J&J For Details on Talcum Liability Bankruptcy Plans
News – Insurance Journal Jul 29, 2021 | 08:21 amA U.S. congressional panel has asked Johnson & Johnson to provide it all documents related to the company’s plans to put its talc liabilities into bankruptcy, according to a letter sent on Wednesday and seen by Reuters. Democrat Raja Krishnamoorthi,[…]
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P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
News – Insurance Journal Jul 29, 2021 | 07:47 amPrivate property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an increase in realized[…]
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Insurtech Investment Reaches Record $7.4B for First Half 2021
News – Insurance Journal Jul 29, 2021 | 07:34 amInsurtech venture investment keeps climbing ever higher, with new records reached for the second quarter as well as the first half of 2021, according to the latest Willis Towers Watson report on the sector. Global insurtech investment hit $7.4 billion[…]
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